Boeing announced plans to stop production of C-17 cargo jets at the company’s sprawling Long Beach, Calif., plant three months earlier than it previously anticipated.

The aerospace giant said Monday it will shutter the 1.1-million-square-foot facility in mid-2015 because of “current market trends and the timing of expected orders.” The plane maker had initially said that production would come to an end in late 2015.

The company said it expects to record $50 million in accounting charges in the first quarter as a result of Monday’s announcement.

Boeing said about 2,200 employees support the C-17 Globemaster III program in California. The company already began workforce reductions this year and plans to continue the cuts through closure.